remember this morning how we had that little double top on the 1 minute chart and then the fairly strong retrace near close (on the DOW) we had breached the 50 day moving average. The dow pulled back to finish neatly on it. The 50 dma has been overhead resistance all the way down in this bear. We haven't seen the 50 for quite some time because the October fall was so large and we were well and truly under it. But now the 50 has caught up. question is will the dow now smash through the 50 and have a decent bear market rally.....or will now return to our earlier game of death by 1000 cuts....grinding downwards slowly.
Today I think our market is betting on the latter.
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Last
8,757.2 |
Change
118.200(1.37%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,639.0 | 8,776.4 | 8,639.0 |
| XJO (ASX) Chart |